Angolan agency signs private investment contracts worth US$21 billion

The value of investment contracts signed in Angola from 2016 to June of this year totals US$21 billion, the director of the Technical Unit for Private Investment (UTIP) said on Wednesday in Luanda.

Norberto Garcia said that this amount is the sum of investments in 42 projects with contracts signed by the UTIP, many of which have already been implemented and “have contributed significantly to the process of economic diversification.”

For example, the director of the UTIP noted a project by Tidiane Trading, Lda, for production of monoblocks and electricity pylons, whose US$10.05 million investment contract was signed on Wednesday.

The project, to be executed in an estimated area of 30,000 square metres, is located in the Special Economic Zone, in Viana, where one of the areas for the production of electrical equipment has already been built.

Garcia said that since the UTIP was established, about 20 months ago, investment contracts with a combined value of about US$9 billion have been signed.

It is UTIP’s responsibility to receive and analyse investment proposals worth over US$10 million, or the equivalent in kwanzas.